Do Old Debts Get Better Settlements

I guess you have hired the services of a settlement company, right?

Well, the settlement offer would depend upon the efficiency of your case representative. If he is a good negotiator, he may earn you a good deal.

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i believe that 42 months is a little too long. you may end up getting sued. This is the thing about settlement its sort of a gamble. yes the longer the debt the better the settlement. but also the longer you wait the more likely you are to get sued in court. for instance i defaulted on my discover its balance was around 4,800.00 i think it was around month 13 or so and i settled for i believe 1300.00 with all thier fees the new balance was just over 6,000.00 so it was still worth it but once you start getting around the 2 year mark your chances of getting sued is getting pretty high. but if you dont have a choice its the choice you must live with. good luck to you!

Whats going to happen if i get sued? i can't afford to go two years. I know everytime I sit and think about the money I going to end up paying them Iit makes me sick its like paying for an extra credit card. I have 4 cards to save for at one time and I don't know how id do it with out help from a company

I am in DS now. I am using an attorney with low fees. He beats every DS company out there.
I would never go for 2 years. You are just asking for it. No matter what any DS company says, they are all ripoffs. Do it yourself, or find someone who does not help you get into further debt like all these DS companies do.

trust me there are worse things than getting sued if it does happen. check into your state some have no garnish laws. but if they do garnish this is what can happen.

1. judge can set you up on a reasonable payment plan that you all can agree on
2. if they can garnish your wages they will take a small amount from your paycheck till its paid off
3.they can put a bank levvy on your account were they withdraw so much a month till its paid off
4. now if you live in a no garnish state they can also put a lein on your home till the bill is paid.

but keep in mind most settlement companies as soon as you know that you are getting sued get on that account and try to get it settled before the date. sometimes it will work sometimes it wont. it all depends on the creditor. but i hear that even after judgement they can still negotiate this amount. usually atleast from my experience judges frown upon the creditor for suing in court when you are attempting to do something. they feel its a waste of the courts time. I know it happend to me. it was scary getting sued but when i got there it wasnt as bad as i thought it would be and the judge was very understanding. good luck!

I live in Pa so I do believe I am ok as far as my wages being garnished. I was alos told that if they know you are attempting to pay them they will wait....how long ... we will see. I talk to chase again tonight he said 35% is the lowest they will go.

look at it this way even if you end up in court its not the end. you can follow chrys, and still negotiate. Its not the end of the world getting sued and it may help you work out a better deal.

I doubt they can get much better than 35% though. That is very very good.

I Know I can't believe 35% and the account is not in collections yet, it sucks!!! 17k and their will to settle at 58xx I can't come up with the cash in 3 mths.I ask my husband to loan off his 401 but he said no... so what happens, happens!!!!